The buyback had been a long-standing demand by some of the founders and high-profile former executives, who have been pushing Infosys to return surplus capital to shareholders. Photo: Hemant Mishra/MintNew Delhi: India’s second largest IT company Infosys on Friday said its Rs13,000 crore buyback offer will open on 30 November and end on 14 December. The share buyback, which will be the first in the company’s 36-year long history, will see Infosys buying back over 11.30 crore shares at Rs1,150 apiece. Share buybacks typically improve earnings per share and return surplus cash to shareholders, while supporting share price during period of sluggish market condition. Earlier this year, its larger rival Tata Consultancy Services (TCS) completed a Rs16,000 crore mega buyback offer.

Source: Mint November 17, 2017 15:00 UTC